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HSBC to price return optimization securities linked to ETFs via UBS
By Marisa Wong
Milwaukee, Feb. 1 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due Feb. 28, 2013 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the iShares MSCI EAFE index fund with a 70% weight and the iShares MSCI Emerging Markets index fund with a 30% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 1.5 times the gain, subject to a maximum return of 40% to 46% that will be set at pricing.
If the basket return is between zero and negative 40%, the payout will be par.
If the basket return is less than negative 40%, investors will lose 1% for each 1% the basket declines.
The notes are expected to price Feb. 23 and settle Feb. 26.
UBS Financial Services Inc. is the agent.
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